The Jump Start for Job Creators Act

Since taking office in January, my top priority in Congress has been job creation and economic growth. Small businesses play a critical role in our economy, and I've focused closely on policies that will help entrepreneurs and small business owners overcome the obstacles they face in this challenging economic environment.

I recently announced a piece of bipartisan legislation that will aid entrepreneurs in the first stages of starting their business.The Delaware County Daily Times published a story on the legislation on Sunday:

Meehan introduced House Resolution 3231, the Jump Start for Job Creators Act, on Oct. 14. The bill, which was referred to the House Committee on Ways and Means, currently includes a handful of bipartisan cosponsors, including two Democrats and one Republican.

The bill would amend current law to allow startup businesses to expense their deductions up front at a higher rate, according to Meehan.

In a nutshell, the bill would increase the maximum deduction for small business startup expenses to $20,000 over a longer period of time, and increase the ceiling for start-up expenses to $75,000. Under current law, the maximum deduction for small business startup expenses is limited to $5,000 if the total startup expenses are less than $50,000, according to Meehan’s spokeswoman Maureen Keith.

The Jump Start for Job Creators Act will give those looking to start a business a boost that may be the difference between failure and success. It’s a good example of common-sense legislation to ease the burdens on job creators that members of both parties can support.